Friday, 24 December 2010

Will bank reforms help Spain?: "Spain is going to get rid of one of “the weak links of its chain”, i.e. to restructure the savings banks, which are planned to be enlarged so that the authorities could estimate their condition and help them in case of emergency.

Such savings banks are engaged in 50% of banking operations around the country, but they are burdened with bad debts.

In the meantime the Euro currency rate is moving back and forth around the same level. By now the price has stopped close to its low at 1.3072 and started to grow. According to the Department of studying Masterforex-V trading system , there is a newly-formed shortened wave. Getting over the MF pivot (1.3178) and MF SC will complete the entire wave started at 1.3497 and will initiate the formation of bullish wave B. Otherwise there is a possibility to see either bearish wave c(C ) or a shortened wave.
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